OP-ED: A budget closer to reality

The FM has a daunting task on his hands

US President Joe Biden wants to raise taxes on the rich. He also wants to spend $80 billion on the National Revenue Service to weed out tax evasion. These are the additional resources that will go towards funding part of the $1.9 trillion stimulus package that he wrested approval for, from Congress and the Senate.

Our finance minister has a bigger task on hand. In a couple of months, he will have to present a budget that can support further stimulus, spending on health, and a whole host of other expenses that the government has been saddled with. It doesn’t make it any easier, what with the National Board of Revenue falling some Tk50,000 crore short of its target till end-March.